Ukrainian President Petro Poroshenko has expressed strong support for the High Court of England’s ruling in the PrivatBank compensation case, which ordered former owners of the bank to pay Ukraine over $3 billion. The former head of state, now an MP of the European Solidarity Party, described the decision as ‘justice worth fighting for,’ underscoring its significance in the context of Ukraine’s legal and political landscape.
Poroshenko reflected on the political costs associated with the 2016 privatization of PrivatBank during his presidency. He stated that the decision to privatize the state-owned bank was a major political gamble, which resulted in a significant loss of political capital. This move was part of broader reforms aimed at improving Ukraine’s economic stability and attracting foreign investment, but it also sparked intense domestic and international debate.
The High Court’s ruling marks a crucial step in the ongoing legal battle between Ukraine and the former owners of PrivatBank, including Russian oligarch Roman Abramovich and other entities. The decision is seen as a landmark case in the fight for the restitution of assets seized during the Soviet era and the subsequent privatizations. Poroshenko’s comments align with the broader narrative of Ukraine’s efforts to reclaim its economic sovereignty and hold accountable those who profited from past state assets.
Legal analysts suggest that the ruling not only represents a victory for Ukraine but also sends a strong message to other nations involved in similar disputes. The case has attracted international attention, with many viewing it as a test of the legal frameworks in place to address historical grievances related to state assets and their restitution.